Healthcare leader Tomislav Mihaljevic joins Oracle (ORCL) board of directors
Rhea-AI Filing Summary
Oracle Corporation has elected Dr. Tomislav Mihaljevic to its Board of Directors, effective May 6, 2026, and increased the Board size to 13 members. He is Chief Executive Officer and President of Cleveland Clinic and has led the organization since January 2018.
Dr. Mihaljevic will receive restricted stock units in Oracle common stock on May 31, 2026 under the company’s directors’ stock plan, with full vesting on the first anniversary of the grant if he continues serving as a director. He will also receive standard cash compensation for non-employee directors and has entered into Oracle’s standard indemnification agreement. Board members serve one-year terms and will next stand for election at the annual meeting in November 2026.
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8-K Event Classification
Key Figures
Key Terms
restricted stock units financial
indemnification agreement regulatory
Regulation FD regulatory
forward-looking statements regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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CURRENT REPORT
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Section 5—Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 6, 2026, the Board of Directors (the “Board”) of Oracle Corporation (“Oracle”) unanimously elected Tomislav Mihaljevic to serve as a director, effective immediately. Dr. Mihaljevic has not been named and is not currently expected to be named, to any committee of the Board at this time.
Dr. Mihaljevic will be granted restricted stock units for shares of Oracle common stock (the “RSUs”) on May 31, 2026 in accordance with Oracle’s Amended and Restated 1993 Directors’ Stock Plan and in a manner consistent with Oracle’s annual award for non-employee directors generally. The RSUs will fully vest on the first anniversary of the date of grant provided Dr. Mihaljevic continues to serve as a director on the vest date. Dr. Mihaljevic will also receive the standard cash compensation for Oracle’s non-employee directors. There are no arrangements or understandings between Dr. Mihaljevic and any other persons pursuant to which he was elected to the Board. Dr. Mihaljevic has no related party transactions with Oracle that are reportable under Item 404(a) of Regulation S-K and has no family relationships with any director, executive officer or nominee for director or executive officer of Oracle.
Dr. Mihaljevic entered into Oracle’s standard form of indemnification agreement pursuant to which Oracle will indemnify him for certain actions taken in his capacity as a director.
Section 7—Regulation FD
Item 7.01 Regulation FD Disclosure
On May 12, 2026, Oracle issued a press release announcing the appointment of Dr. Mihaljevic to the Board. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information set forth in this Item 7.01 and in the attached Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Section 9—Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press Release – Oracle Names Tomislav Mihaljevic, M.D., to the Board of Directors, dated May 12, 2026 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ORACLE CORPORATION | ||||||
| Dated: May 12, 2026 | By: | /s/ Kimberly Woolley | ||||
| Name: | Kimberly Woolley | |||||
| Title: | Vice President, Assistant General Counsel and Assistant Secretary | |||||
Exhibit 99.1
| ||||
| Contact: | Ken Bond | Deborah Hellinger | ||
| Oracle Investor Relations | Oracle Corporate Communications | |||
| 1.650.607.0349 | 1.212.508.7935 | |||
| ken.bond@oracle.com | deborah.hellinger@oracle.com | |||
Oracle Names Tomislav Mihaljevic, M.D., to the Board of Directors
AUSTIN, Texas, May 12, 2026 — Oracle Corporation (NYSE: ORCL) today announced that it unanimously elected Dr. Tomislav Mihaljevic to Oracle’s Board of Directors and increased the size of the Board to 13. The election is effective as of May 6, 2026.
Dr. Mihaljevic is the Chief Executive Officer and President, Morton L. Mandel CEO Chair, of Cleveland Clinic, a nonprofit multispecialty academic medical center and global integrated healthcare system, a position he has held since January 2018. From 2015 to 2017, Dr. Mihaljevic served as Chief Executive Officer of Cleveland Clinic Abu Dhabi (CCAD). Prior to that, he was Chief of Staff and Chairman of the Heart & Vascular Institute at CCAD. Dr. Mihaljevic joined Cleveland Clinic in 2004 as a surgeon in the Department of Thoracic and Cardiovascular Surgery. He previously served as a director of GE HealthCare.
“Tom is one of the world’s leading healthcare executives, with deep experience managing complex clinical organizations, advancing patient care, and expanding access to high-quality healthcare around the world,” said Mike Sicilia, Oracle Chief Executive Officer.
Clay Magouyrk, Oracle’s Chief Executive Officer, added “Tom’s perspective will be invaluable as Oracle continues to help healthcare organizations use technology to improve outcomes for patients and providers.”
“Tom’s leadership at Cleveland Clinic gives him a unique understanding of the challenges facing healthcare systems globally. Oracle, along with its customers and shareholders, will benefit from Tom’s experience at the intersection of healthcare, technology and risk management.” said Bruce Chizen, Chair of Oracle’s Nomination and Governance Committee.
Members of Oracle’s Board of Directors serve one-year terms and will next stand for election at the company’s annual meeting of stockholders in November 2026.
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“Safe Harbor” Statement: Statements in this press release relating to Oracle’s future plans, expectations, beliefs, intentions, and prospects are “forward-looking statements” and are subject to material risks and uncertainties. A detailed discussion of these factors and other risks that affect our business is contained in Oracle’s Securities and Exchange Commission (SEC) filings, including our most recent reports on Form 10-K and Form 10-Q under the heading “Risk Factors.” These filings are available on the SEC’s website or on Oracle’s website at http://www.oracle.com/investor. All information in this press release is current as of May 12, 2026, and Oracle undertakes no duty to update any statement in light of new information or future events.